भारतात 'वित्तीय जबाबदारी व अर्थसंकल्प व्यवस्थापन कायदा' कोणत्या वर्षी मंजूर झाला ?
(1) 2003
(2) 1991
(3) 2009
(4) 2014

The correct answer is Option A (2003).

Key Points:
• The Fiscal Responsibility and Budget Management (FRBM) Act was passed by the Indian Parliament in August 2003 during the Atal Bihari Vajpayee government and came into force on July 5, 2004.
• Core Objective: To institutionalize financial discipline, reduce India's fiscal deficit, eliminate the revenue deficit, and improve macro-economic management.
• Statutory Targets: Originally mandated reducing the fiscal deficit to 3% of GDP and completely eliminating the revenue deficit by March 31, 2008 (later extended to 2009).
• The Act made it mandatory for the Central Government to present three policy statements annually alongside the Union Budget: Medium-term Fiscal Policy Statement, Fiscal Policy Strategy Statement, and Macro-economic Framework Statement.
• Hence, option 1 (2003) is correct.
• Key Takeaway: The FRBM Act was passed in 2003 to enforce fiscal discipline and curb government deficits.